SSE powers up £12m Fife deal

SCOTTISH & Southern Energy has bought a gas-fired power station in Fife for £12.3 million, securing the jobs of the Cardenden plant’s ten staff.

The Fife Power combined cycle gas turbine plant was previously owned by a group of shareholders, including United States-based energy company El Paso, but has been in administration since January 2003. Perth-based SSE purchased the power station from administrators Tom Burton and Colin Dempster, of Ernst & Young, and the company said it plans to spend up to 3m to upgrade the plant.

The acquisition follows the 242m deal to acquire Medway Power last October and takes SSE’s power capacity to almost 5700 megawatts.